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Monday, December 15, 2014

Tuesday 16th December trade plan and Levels for ES

Morning Traders.

Yesterday ES once again continued its value transition lower but also provided great opportunity at support zones.

So here we go today.

Todays bull bear zone is at 85.5-87.5. Above here we could see ES retest higher values where id expect to find sellers on first test. Today we also have 1997 which will give us a great idea how strong the bulls really are on the day time frame as a break of this should see us retest 08.5-10.5.

However ES did close yesterday leaving us a weak low which needs to be repaired at 59-61. Now our first zone of support is at 67.5-69.5 and we would need a good setup here for us to look long even though this was our target area a few days ago for a complete value transition. Especially in this bearish scenario. We may be better off waiting for the 59-61 or finally the 51.75-53.75 zones to start a long position.

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Disclaimer

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